AIM’s star performer | Acquisition strategies | Modest rating
A provider of rent guarantee services to tenants and landlords has delivered another impressive update, however, the market remains wary of one aspect of its business. Elsewhere an engineering services group demonstrates an effective acquisition strategy, while a provider to the construction industry appears to have been a bit too gung-ho to us. Read on here for our forthright views on this and other news.
Renew Holdings: another nice acquisition Renew (AIM: RNWH), the Engineering Services Group supporting the maintenance and renewal of critical UK infrastructure, has made another interesting acquisition. Renew has acquired Porter Brothers, the parent company of PBU for a total consideration of up to £50m. PBU is a specialist provider of extra high voltage cabling and directional drilling engineering services to the energy distribution market. The acquisition further enhances Renew's delivery capabilities across the electricity transmission and distribution network, adding highly specialist engineering services and enabling Renew to address a broader range of opportunities in this structurally growing market. Combined with…